CHENNAI: Indian equity markets ended Monday’s session on a strong note, driven by firm gains in banking, healthcare, and information technology stocks. Investor sentiment remained upbeat amid optimism over upcoming large IPOs and robust loan growth data from banks.
The BSE Sensex climbed about 580 points, or 0.72 Percent, to close near 81,709, while the NSE Nifty 50 advanced 0.7 percent to finish at 25,077, comfortably above the 25,000 mark. Broader indices also moved higher — the Nifty Midcap 100 rose nearly 0.9 percent, and the Smallcap 100 added 0.3%, indicating a largely positive market breadth.
Most sectoral indices ended in the green. The Nifty IT index led the gains with a 2.3 percent jump, followed by Healthcare and Private Banks, which advanced around 1.3 percent and 1.2 percent respectively. The Realty and Auto indices also posted modest gains. On the downside, Media, Metals, and FMCG sectors witnessed mild declines, reflecting selective profit-taking after recent rallies.
Among the top performers, Axis Bank rose more than 2.6 percent, supported by strong quarterly loan growth data. Aditya Birla Lifestyle surged over 8 percent following a large block deal, while healthcare majors like Fortis Healthcare, Emcure Pharmaceuticals, and Max Healthcare extended their recent gains.
In contrast, Tata Steel slipped nearly 1.9 percent as metal stocks came under pressure.
Analysts attributed the day’s rally to strong banking numbers, a rebound in IT stocks, and the anticipation of large inflows linked to upcoming IPOs from Tata Capital and LG Electronics India. Global cues also remained broadly supportive, with stable US bond yields and a steady risk appetite across Asian markets.
Currency and Bonds
The Indian rupee ended almost flat at Rs 88.78 per US dollar, hovering close to its record low. Traders noted intermittent intervention by the Reserve Bank of India (RBI) through state-run banks to stabilize the currency. The 10-year government bond yield was steady around 6.51 Percent, supported by a lighter borrowing schedule from states.
According to market researchers and brokerages, quoted in reports, market sentiment remains positive, but they caution that volatility could return amid rupee weakness and global uncertainty. Sectoral rotation is likely to continue, with investors focusing on financials and IT while taking selective profits in defensives like FMCG and metals.
Overall, the October 6 session reflected resilience in domestic equities, supported by healthy corporate momentum and steady foreign investor interest ahead of a busy IPO calendar.